Stakeholder thinking

Rahim, Mia Mahmudur (2015) Stakeholder thinking. In Idowu, Samuel O., Capaldi, Nicholas, Fifka, Matthias, Zu, Liangrong, & Schmidpeter, René (Eds.) Dictionary of Corporate Social Responsibility : CSR, Sustainability, Ethics and Governance. Springer, Heidelberg , Germany, p. 502.

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‘Stakeholder’ is at the center of stakeholder thinking. Hence the meaning of ‘stake’ and ‘holder’ are important within the stakeholder thinking. Simple, the word ‘stake’ means a right to do something in response to any act or attachment. Since, rights are generally attached with liabilities, this word also denotes liabilities of someone for enjoying a particular right. A stake could be a reasonable share of something. From the organizational stakeholder perspective, Carroll identifies three sources of stakes: ownership at one extreme, interest in between and legal and moral right at the other extreme [1]. The word ‘holder’ is comparatively easy to understand. It denotes a person or entity that faces some consequences or need to do something as a consequence of act or to meet a certain need. Combining these two sets of meaning, stakeholder can be defined as ‘any group or individual who can affect or is affected by the achievement of the firm’s objectives’ [2]. For instance, the employees, customers, investors, competitors, government, non-governmental organizations (NGOs) can be the stakeholder of a company...

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ID Code: 62514
Item Type: Reference Entry
ISBN: 9783319105352
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Logistics and Supply Chain Management (150309)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Deposited On: 19 Sep 2013 23:27
Last Modified: 30 May 2016 00:20

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